AHIF Affordable Housing Investment Fund

AHIF Affordable Housing Investment Fund is a deferred second loan for homebuyers in La Plata|Archuleta|Montezuma|San Juan|Dolores|Hinsdale|Mineral|San Miguel County, Colorado. HomesFund's AHIF program uses Affordable Housing Investment Fund capital to provide down payment assistance to homebuyers in southwest Colorado. Larger loan amounts may be available. Deferred repayment structure with no monthly DPA payments. Affordable Housing Investment Fund-backed DPA. larger loan amounts available. supports affordable homeownership in SW Colorado. deferred repayment. Funding comes from Nonprofit and Local Fund.

AHIF Affordable Housing Investment Fund is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, Refinance, and Maturity Date. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

AHIF Affordable Housing Investment Fund is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 620. A homebuyer education course is required, through HomesFund homebuyer education required; HUD-approved. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. AHIF-funded; income limits apply; purchase in HomesFund area.

AHIF Affordable Housing Investment Fund limits household income to $137,200. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

AHIF Affordable Housing Investment Fund caps the purchase price at $640,000. Eligible property types include Single Family, Condo, Townhouse, and Manufactured Home. New construction is eligible. Manufactured homes are eligible.

AHIF Affordable Housing Investment Fund serves homebuyers purchasing in La Plata|Archuleta|Montezuma|San Juan|Dolores|Hinsdale|Mineral|San Miguel County, Colorado. The program targets specific areas: Southwest Colorado counties served by HomesFund.

Applications for AHIF Affordable Housing Investment Fund go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.